According to a new report published by K D Market Insights, titled,Demand for “Online On-demand Home Services Market Insights, Trends, Opportunity & Forecast, 2020–2025,” the global online on-demand home services market size is anticipated to witness exponential growth during the forecast period i.e. 2020–2025.
The changing lifestyle in all the households globally is one of the major factors driving the growth of the global online on-demand home services market. Additionally, the growing internet penetration worldwide allowing consumers to inquire and check about the service specifications and buy or register for the needed services online coupled and the increasing adoption of online or e-commerce based cleaning and home care services especially in mature regions such as the U.S., Canada, and Germany and emerging countries such as Brazil, China, and India are creating ample growth opportunities for the market. Furthermore the growing number of dual parent working families across different regions around the world is anticipated to further bolster the growth of the global online-on-demand home services market during the forecast period.
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The North American region accounted for the largest share in the global online on-demand home services market in 2020 and is expected to further retain its dominance in the market over the forecast period. The U.S. is expected to be the major contributor to the market in the region. The Asia Pacific region is expected to grow at the highest CAGR in the market during the forecast period with China expected to be the leading country in the region throughout the forecast period.
According to service type, the repair & maintenance segment is anticipated to register the highest CAGR in the market during the forecast period. The home care & design segment on the other hand is projected to attain the second highest growth in the market over the forecast period.
The global online on-demand home services market is segmented into service type and region. Based on service type, the market is bifurcated into home care & design, repair & maintenance, health, wellness & beauty and others.
The global online on-demand home services market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Impact of COVID-19
With the occurrence of COVID-19 pandemic in 2019, the market is expected to experience negative impact during the forecast period. With families being extra cautious about the new people around them and social distancing norms, consumers are not registering for online services much often. Social distancing norms are being strictly followed in many countries and developed regions in the world and hence it is expected to pose a threat to the growth of the online on-demand online home services market during the first half of the forecast period. Vendors and service providers are concerned about providing hygiene and safe servicing hence they are also taking proper measures regarding the COVID-19 norms and the service personals are also trained to take extra care while visiting the clients’ households.
Key Insights of Online On-demand Home Services Market
- On the basis of service type, the repair & maintenance segment is anticipated to register the highest CAGR in the market during the forecast period.
- On the basis of service type, the home care & design segment is projected to attain the second highest growth in the market over the forecast period.
- On the basis of region, North America accounted for the largest share in the global online on-demand home services market in 2020 and is expected to further retain its dominance in the market over the forecast period.
- On the basis of region, Asia Pacific is expected to grow at the highest CAGR in the market during the forecast period.
Some of the major online on-demand home services companies profiled in the report include ABM Industries Inc., Anago Cleaning Systems, Aramark Corporation, Chemdry, Cleannet, Jani-King Inc, Pritchard Industries Inc, Sodexo, Stanley Steemer International Inc. and The Servicemaster Company LLC.
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